Nigeria’s economy grew by 3.89 percent in real terms in the first quarter of 2026, with trade, agriculture, real estate, telecommunications, and financial services emerging as the biggest contributors to economic output, according to the latest National Gross Domestic Product (GDP) report
The report, published by the National Bureau of Statistics (NBS), disclosed that the performance in Q1 was driven by the services sector, which recorded a growth of 4.31 percent from 4.33 percent in the same quarter of 2025.
In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2026 at 57.73 percent compared to the corresponding quarter of 2025 at 57.50 percent.
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During the quarter under review, agriculture grew by 3.15 percent, an improvement from the 0.07 percent recorded in the corresponding quarter of 2025. The growth of the industry sector stood at 3.50 percent from 3.42 percent recorded in the first quarter of 2025,
Here are the top 10 activities that contributed the most to Nigeria’s real GDP in Q1 2026:
Trade — 17.89%
Trade remained the single largest contributor to Nigeria’s economy, accounting for 17.89 percent of real GDP in Q1 2026. Despite its dominant weight, growth in the sector was relatively modest at 2.08 percent year-on-year from 1.78 percent, reflecting the resilience of commerce amid inflationary pressures and weaker consumer purchasing power.
Crop Production — 17.38%
Crop production retained its position as the second-largest contributor to GDP, accounting for 17.38 percent of total output. As the engine of Nigeria’s agricultural economy, the sub-sector posted real growth of 3.39 percent, benefiting from improved agricultural activity compared with the same period last year.
Real Estate — 13.10%
Real estate contributed 13.10 percent to GDP, underscoring its continued importance in Nigeria’s economic structure. However, growth slowed to 2.29 percent in real terms, suggesting softer momentum in property-related activities.
Telecommunications & Information Services — 9.19%
Telecommunications remained one of Nigeria’s strongest growth engines, contributing 9.19 percent to GDP while expanding by 11.08 percent in real terms, making it one of the fastest-growing sectors in the quarter as digital adoption accelerated.
Construction — 4.85%
Construction accounted for 4.85 percent of GDP and recorded solid real growth of 6.38 percent, supported by ongoing infrastructure and building activity despite broader economic challenges.
Crude Petroleum & Natural Gas — 3.92%
Oil’s contribution to GDP remained subdued at 3.92 percent, even though the sector recorded real growth of 2.57 percent. Lower average crude production volumes continued to limit its economic impact.
Food, Beverage & Tobacco — 3.48%
Food, beverage, and tobacco manufacturing contributed 3.48 percent to GDP, with the sector posting real growth of 4.11 percent, reflecting sustained demand for consumer staples.
Financial Institutions — 3.41%
Financial institutions contributed 3.41 percent to GDP and expanded by 8.70 percent in real terms, highlighting continued momentum in banking, digital payments, and financial intermediation.
Livestock — 3.08%
Livestock accounted for 3.08 percent of GDP and grew by 2.73 percent in real terms, reinforcing the importance of broader agricultural activity beyond crop production.
Professional, Scientific & Technical Services — 2.44%
Professional, scientific, and technical services contributed 2.44 percent to GDP while growing by 2.66 percent in real terms, reflecting steady expansion in knowledge-driven business services.